Still Range Trading at the Highs January 13 Update

Jan 13, 2017: 1:19 PM CST

In the battle for market dominance we still DON’T have a winner!  Bulls?  Bears?  Nada.

Instead we remain trapped at the highs in a volatile sideways trading range.

Here’s today’s updated Emini (@ES) trading levels for your trades:

Supply and demand move price; it’s nothing magical.

Right now we’re at a critical reference area – 2,270 in the @ES which is just under the all-time high.

Buyers want to extend the market higher with a breakout, and they’ve countered each of the three recent sell-offs of the bears.

With neither side victorious, we’re seeing volatility increase and our Fibonacci Levels serving as targets and short-term inflection (reversal) points.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

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Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”

1 Comment

One Response to “Still Range Trading at the Highs January 13 Update”

  1. Sachin Says:

    I like range trading, but it can be risky too, so got to be extremely wise with how we go about doing things. I am working with OctaFX broker and they are awesome by all measurements to do with small spreads from 0.1 pips to high leverage up to 1.500 while they also have got brilliant cash back scheme where I get 50% back on all trades which is even with losing one, so that all keeps me entirely comfortable and relaxed with things, so I can really do well!